Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

During Monday trade New Zealand dollar increased in value against the US dollar, after the release of Chinese Manufacturing report on Saturday.

During Asian session, NZD/USD pair reached 0.7982, session high for the moment, after which consolidation followed at the lower 0.7974 level. The pair was up by 0.35% for the day. Support was expected at May 31st low, 0.7939, while resistance was likely to be encountered at May 31st high, 0.8102.

On Saturday official report stated that Chinas Manufacturing PMI recorded a rise to 50.8 during May from a reading of 50.6 during April.

Additional report came out earlier today and showed that China’s HSBC Manufacturing PMI dipped to 49.2 in May, while during April this indicator was at the level of 49.6.

Meanwhile, New Zealand dollar dipped versus its Australian counterpart, as AUD/NZD rose to 1.2094.

Retail Sales report was announced earlier and showed a slower than expected rise, 0.2% during April, mismatching projections for a 0.3% rise. During the preceding month Australian Retail Sales dipped by 0.4%.

Additionally, Melbourne Institute Monthly Inflation Gauge showed a slow down to 0.2% in May, from 0.3% in April.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Gold extends record streak as US tariffs fuel safety flowsGold extends record streak as US tariffs fuel safety flows Spot Gold scaled a new all-time peak of $3,167.57 per troy ounce on Thursday, after US President Trump unveiled an extensive set of import tariffs, which added more fuel to an already simmering global trade war.Yesterday the Trump […]
  • Forex Market: EUR/USD daily forecastForex Market: EUR/USD daily forecast During Friday’s trading session EUR/USD traded within the range of 1.3564-1.3634 and closed at 1.3600.At 6:49 GMT today EUR/USD was adding 0.06% for the day to trade at 1.3607. The pair touched a daily high at 1.3614 at 6:10 […]
  • USD/CAD lower in calm tradeUSD/CAD lower in calm trade On Monday US dollar lowered against its Canadian counterpart in steady trade, as investors began to focus on FEDs monetary policy meeting, scheduled on Wednesday.USD/CAD fell to a session low at 1.0148 during early US trade, after which […]
  • Siemens AG share price down, to cut 4 500 jobs as industrial profit fallsSiemens AG share price down, to cut 4 500 jobs as industrial profit falls German engineering giant Siemens AG announced on Thursday another workforce reduction to help turn around its power and gas division and other underperforming businesses as second-quarter industrial profit dropped due to low oil prices and […]
  • Forex Market: USD/BRL daily trading forecastForex Market: USD/BRL daily trading forecast Yesterday’s trade saw USD/BRL within the range of 2.4691-2.4979. The pair closed at 2.4952, gaining 0.55% on a daily basis.At 8:38 GMT today USD/BRL was up 0.01% for the day to trade at 2.4956. The pair broke the first and the second key […]
  • USD/MYR edges lower as US economic concerns deepenUSD/MYR edges lower as US economic concerns deepen The USD/MYR currency pair pulled back from an intraday high of 4.4350 on Tuesday, reversing earlier gains, as concerns over a US economic slowdown and potential recession mounted.The US Dollar hovered just above a four-month low against […]